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INTRODUCTION: Ownership of Federal Securities
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OWNERSHIP OF FEDERAL SECURITIES
Federal securities presented in the following tables are public debt securities such as savings bonds, bills, notes, and bonds that the Treasury issues. The tables also detail debt issued by other Federal agencies under special financing authorities. [See the Federal debt (FD) tables for a more complete description of the Federal debt.]
Effective January 1, 2001, Treasury’s Bureau of the Fiscal Service revised formats, titles, and column headings in the “Monthly Statement of the Public Debt of the United States,” Table I: Summary of Treasury Securities Outstanding and Table II: Statutory Debt Limit. These changes should reduce confusion and bring the publication more in line with the public’s use of terms.
Treasury’s Bureau of the Fiscal Service compiles data in the “Treasury Bulletin” table OFS-1 from the “Monthly Statement of the Public Debt of the United States.” Effective June 2001, Bureau of the Fiscal Service revised procedures and categories in this table to agree with the Bureau of the Fiscal Service’s publication changes.
· Table OFS-1 presents Treasury marketable and nonmarketable securities and debt issued by other Federal agencies held by Government accounts, the FRBs, and private investors. Social Security and Federal retirement trust fund investments comprise much of the Government account holdings.
The FRBs acquire Treasury securities in the market as a means of executing monetary policy.
· Table OFS-2 presents the estimated ownership of U.S. Treasury securities. Information is primarily obtained from the Federal Reserve Board of Governors Flow of Funds data, Table L209. State, local, and foreign holdings include special issues of nonmarketable securities to municipal entities and foreign official accounts. They also include municipal, foreign official, and private holdings of marketable Treasury securities. (See footnotes to the table for description of investor categories.)
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TABLE OFS-1—Distribution of Federal Securities by Class of Investors and Type of Issues
[In millions of dollars. Source: Bureau of the Fiscal Service]End of
fiscal year
or month / Total
Federal
securities
outstanding
(1) / Public debt securities
Held by U.S. Government accounts / Public issues
held by Federal
Reserve banks
(6)
Total
outstanding
(2) /
Total
(3) /
Marketable
(4) /
Nonmarketable
(5)
2012 / 16,090,640 / 16,066,241 / 4,791,850 / - / 4,791,850 / 1,744,275
2013 / 16,763,286 / 16,738,183 / 4,757,211 / - / 4,757,211 / 2,315,023
2014 / 17,847,931 / 17,824,071 / 5,039,265 / - / 5,039,265 / 2,767,288
2015 / 18,174,718 / 18,150,618 / 5,026,867 / - / 5,026,867 / 2,802,101
2016 / 19,597,812 / 19,573,445 / 5,395,699 / - / 5,395,699 / 2,830,115
2015 - Sept / 18,174,718 / 18,150,618 / 5,076,967 / - / 5,026,867 / 2,802,101
Oct / 18,177,087 / 18,152,982 / 5,084,605 / - / 5,084,605 / 2,804,479
Nov / 18,851,699 / 18,827,323 / 5,233,642 / - / 5,233,642 / 2,806,337
Dec / 18,946,739 / 18,922,179 / 5,244,964 / - / 5,244,964 / 2,810,057
2016 - Jan / 19,037,446 / 19,012,828 / 5,351,001 / - / 5,351,001 / 2,809,575
Feb / 19,149,887 / 19,125,455 / 5,335,427 / - / 5,335,427 / 2,813,201
Mar / 19,289,383 / 19,264,939 / 5,335,182 / - / 5,335,182 / 2,815,313
Apr / 19,211,778 / 19,187,387 / 5,341,480 / - / 5,341,480 / 2,815,146
May / 19,289,971 / 19,265,452 / 5,374,362 / - / 5,374,362 / 2,816,340
June / 19,406,152 / 19,381,591 / 5,444,287 / - / 5,444,287 / 2,819,062
July / 19,452,247 / 19,427,695 / 5,341,480 / - / 5,425,190 / 2,821,881
Aug / 19,534,678 / 19,510,296 / 5,374,362 / - / 5,401,852 / 2,827,017
Sept / 19,597,812 / 19,573,445 / 5,444,287 / - / 5,395,699 / 2,830,115
Public debt securities, continued / Agency securities 1
End of
fiscal year
or month / Held by private investors / Total
outstanding
(10) / Held by
private
investors
(11) / Held by
Govern-
ment
accounts
(12)
Total
(7) / Marketable
(8) / Nonmarketable
(9)
2012 / 9,530,116 / 9,005,483 / 524,634 / 24,399 / 24,394 / 5
2013 / 9,665,949 / 9,281,132 / 384,818 / 25,103 / 25,098 / 5
2014 / 10,017,518 / 9,526,925 / 490,594 / 23,860 / 23,857 / 3
2015 / 10,321,650 / 10,051,650 / 270,000 / 24,100 / 24,095 / 5
2016 / 11,347,631 / 10,830,489 / 517,142 / 24,367 / 24,363 / 4
2015 - Sept / 10,321,650 / 10,051,650 / 270,000 / 24,100 / 24,095 / 5
Oct / 10,263,898 / 9,998,540 / 265,358 / 24,105 / 21,414 / 2,691
Nov / 10,787,344 / 10,316,306 / 471,038 / 24,376 / 21,685 / 2,691
Dec / 10,867,158 / 10,396,498 / 470,660 / 24,560 / 24,554 / 6
2016 - Jan / 10,852,253 / 10,379,385 / 472,868 / 24,618 / 24,612 / 6
Feb / 10,976,827 / 10,499,530 / 477,297 / 24,432 / 24,427 / 5
Mar / 11,114,444 / 10,630,827 / 483,616 / 24,444 / 24,439 / 5
Apr / 11,030,761 / 10,540,025 / 490,737 / 24,391 / 24,386 / 5
May / 11,074,750 / 10,577,192 / 497,557 / 24,519 / 24,514 / 5
June / 11,118,242 / 10,611,734 / 506,508 / 24,561 / 24,556 / 5
July / 11,180,624 / 10,672,341 / 508,282 / 24,552 / 24,547 / 5
Aug / 11,281,427 / 10,772,054 / 509,373 / 24,382 / 24,377 / 5
Sept / 11,347,631 / 10,830,489 / 517,142 / 24,367 / 24,363 / 4
1 Table has been revised to show separate amounts for Agency Securities to include Held by Private Investors and Held by Government Accounts. / Note—Public issues held by the Federal Reserve banks have been revised to include Ginnie Mae and exclude the following Government-Sponsored Enterprises: Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, and the Federal Home Loan Bank System.
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OWNERSHIP OF FEDERAL SECURITIES
TABLE OFS-2—Estimated Ownership of U.S. Treasury Securities
[In billions of dollars. Source: Office of Debt Management, Office of the Under Secretary for Domestic Finance]SOMA and
Intragovern-
mental
Holdings 2,3
(2) / Pension funds 3
End of month / Total
public
debt 1
(1) / Total
privately
held
(3) / Depository
institutions 4, 5
(4) / U.S.
savings
bonds 6
(5) / Private 7
(6) / State and
local
governments
(7) / Insurance
compa-
nies 4
(8) / Mutual
funds 4, 8
(9) / State and
local
govern-
ments 4
(10) / Foreign
and inter-
national 9
(11) / Other
investors 10
(12)
2016 - Sept / 19,573.4 / 7,863.5 / 11,709.9 / n.a. / 167.5 / n.a. / n.a. / n.a. / n.a. / n.a. / n.a. / n.a.
June / 19,381.6 / 7,911.2 / 11,470.4 / 570.3 / 169.0 / 544.4 / 173.9 / 304.1 / 1,378.9 / 700.0 / 6,281.0 / 1,348.8
Mar / 19,264.9 / 7,801.4 / 11,463.6 / 555.3 / 170.3 / 538.0 / 175.6 / 301.5 / 1,390.7 / 680.1 / 6,287.0 / 1,365.1
2015 - Dec / 18,922.2 / 7,711.2 / 11,211.0 / 546.8 / 171.6 / 529.2 / 174.8 / 298.3 / 1,315.3 / 666.4 / 6,146.8 / 1,361.8
Sept / 18,150.6 / 7,488.7 / 10,661.9 / 513.6 / 172.8 / 318.8 / 173.5 / 297.8 / 1,186.6 / 643.6 / 6,106.3 / 1,248.9
June / 18,152.0 / 7,536.5 / 10,615.5 / 515.4 / 173.9 / 382.9 / 178.0 / 293.2 / 1,135.9 / 630.8 / 6,163.1 / 1,142.2
Mar / 18,152.1 / 7,521.3 / 10,630.8 / 511.7 / 174.9 / 442.8 / 176.4 / 292.7 / 1,156.8 / 640.6 / 6,172.6 / 1,062.4
2014 - Dec / 18,141.4 / 7,578.9 / 10,562.6 / 513.7 / 175.9 / 492.1 / 181.3 / 285.4 / 1,108.3 / 623.1 / 6,157.7 / 1,025.1
Sept / 17,824.1 / 7,490.8 / 10,333.2 / 470.9 / 176.7 / 485.5 / 187.1 / 280.0 / 1,067.6 / 602.6 / 6,069.2 / 993.5
June / 17,632.6 / 7,461.0 / 10,171.6 / 407.2 / 177.6 / 481.1 / 189.3 / 273.6 / 977.9 / 605.9 / 6,018.7 / 1,040.3
Mar / 17,601.2 / 7,301.5 / 10,299.7 / 368.3 / 178.3 / 480.1 / 189.0 / 266.7 / 1,050.1 / 586.7 / 5,948.3 / 1,232.2
2013 - Dec / 17,352.0 / 7,205.3 / 10,146.6 / 321.1 / 179.2 / 478.1 / 188.3 / 264.7 / 975.3 / 586.7 / 5,792.6 / 1,360.6
Sept / 16,738.2 / 6,834.2 / 9,904.0 / 293.2 / 180.0 / 358.6 / 182.8 / 262.3 / 976.2 / 584.1 / 5,652.8 / 1,414.1
June / 16,738.2 / 6,773.3 / 9,964.9 / 300.2 / 180.9 / 454.0 / 178.7 / 262.6 / 1,000.1 / 608.7 / 5,595.0 / 1,384.6
Mar / 16,771.6 / 6,656.8 / 10,114.8 / 338.9 / 181.7 / 464.6 / 173.9 / 266.6 / 1,066.7 / 610.7 / 5,725.0 / 1,286.7
2012 - Dec / 16,432.7 / 6,523.7 / 9,909.1 / 347.7 / 182.5 / 467.5 / 172.9 / 270.6 / 1,031.8 / 606.7 / 5,573.8 / 1,255.6
Sept / 16,066.2 / 6,446.8 / 9,619.4 / 338.2 / 183.8 / 447.0 / 171.4 / 269.5 / 1,080.7 / 593.7 / 5,476.1 / 1,058.9
June / 15,855.5 / 6,475.8 / 9,379.7 / 303.2 / 184.7 / 427.4 / 171.2 / 268.6 / 997.8 / 585.1 / 5,310.9 / 1,130.8
Mar / 15,582.3 / 6,397.2 / 9,185.1 / 317.0 / 184.8 / 406.6 / 169.4 / 271.5 / 1,015.4 / 567.2 / 5,145.1 / 1,108.1
2011 - Dec / 15,222.8 / 6,439.6 / 8,783.3 / 279.7 / 185.2 / 391.9 / 160.7 / 271.8 / 927.9 / 562.2 / 5,006.9 / 997.0
Sept / 14,790.3 / 6,328.0 / 8,462.4 / 293.8 / 185.1 / 373.6 / 155.7 / 259.6 / 788.7 / 557.9 / 4,912.1 / 935.8
June / 14,343.1 / 6,220.4 / 8,122.7 / 279.4 / 186.0 / 251.8 / 158.0 / 254.8 / 753.7 / 572.2 / 4,690.6 / 976.1
Mar / 14,270.0 / 5,958.9 / 8,311.1 / 321.0 / 186.7 / 215.8 / 157.9 / 253.5 / 749.4 / 585.3 / 4,481.4 / 1,360.1
2010 - Dec / 14,025.2 / 5,656.2 / 8,368.9 / 319.3 / 187.9 / 206.8 / 153.7 / 248.4 / 721.7 / 595.7 / 4,435.6 / 1,499.9
Sept / 13,561.6 / 5,350.5 / 8,211.1 / 322.8 / 188.7 / 198.2 / 145.2 / 240.6 / 671.0 / 586.0 / 4,324.2 / 1,534.4
June / 13,201.8 / 5,345.1 / 7,856.7 / 266.1 / 189.6 / 190.8 / 150.1 / 231.8 / 676.8 / 584.4 / 4,070.0 / 1,497.1
Mar / 12,773.1 / 5,259.8 / 7,513.3 / 269.3 / 190.2 / 183.0 / 153.6 / 225.7 / 678.5 / 585.0 / 3,877.9 / 1,350.1
2009 - Dec / 12,311.3 / 5,276.9 / 7,034.4 / 202.5 / 191.3 / 175.6 / 151.4 / 222.0 / 668.8 / 585.6 / 3,685.1 / 1,152.1
Sept / 11,909.8 / 5,127.1 / 6,782.7 / 198.2 / 192.5 / 167.2 / 145.6 / 210.2 / 668.5 / 583.6 / 3,570.6 / 1,046.3
June / 11,545.3 / 5,026.8 / 6,518.5 / 140.8 / 193.6 / 164.1 / 144.6 / 200.0 / 711.8 / 588.5 / 3,460.8 / 914.2
Mar / 11,126.9 / 4,785.2 / 6,341.7 / 125.7 / 194.0 / 155.4 / 137.0 / 191.0 / 721.1 / 588.2 / 3,265.7 / 963.7
2008 - Dec / 10,699.8 / 4,806.4 / 5,893.4 / 105.0 / 194.1 / 147.4 / 129.9 / 171.4 / 758.2 / 601.4 / 3,077.2 / 708.9
Sept / 10,024.7 / 4,692.7 / 5,332.0 / 130.0 / 194.3 / 147.0 / 136.7 / 163.4 / 631.4 / 614.0 / 2,802.4 / 512.9
June / 9,492.0 / 4,685.8 / 4,806.2 / 112.7 / 195.0 / 145.0 / 135.5 / 159.4 / 440.3 / 635.1 / 2,587.4 / 395.9
Mar / 9,437.6 / 4,694.7 / 4,742.9 / 125.0 / 195.4 / 143.7 / 135.4 / 152.1 / 466.7 / 646.4 / 2,506.3 / 371.9
2007 - Dec / 9,229.2 / 4,833.5 / 4,395.7 / 129.8 / 196.5 / 141.0 / 144.2 / 141.9 / 343.5 / 647.8 / 2,353.2 / 297.8
Sept / 9,007.7 / 4,738.0 / 4,269.7 / 119.7 / 197.1 / 140.5 / 153.2 / 155.1 / 292.7 / 643.1 / 2,235.3 / 332.9
June / 8,867.7 / 4,715.1 / 4,152.6 / 110.4 / 198.6 / 139.9 / 162.3 / 168.9 / 257.6 / 637.8 / 2,192.0 / 285.1
Mar / 8,849.7 / 4,576.6 / 4,273.1 / 119.8 / 200.3 / 139.7 / 156.3 / 185.4 / 263.2 / 608.3 / 2,194.8 / 405.2
2006 - Dec / 8,680.2 / 4,558.1 / 4,122.1 / 114.8 / 202.4 / 139.8 / 153.4 / 197.9 / 248.2 / 570.5 / 2,103.1 / 392.0
Sept / 8,507.0 / 4,432.8 / 4,074.2 / 113.6 / 203.7 / 125.8 / 149.3 / 196.8 / 234.2 / 542.3 / 2,025.3 / 483.2
June / 8,420.0 / 4,389.2 / 4,030.8 / 119.5 / 205.2 / 117.7 / 149.6 / 196.1 / 243.4 / 531.6 / 1,977.8 / 490.1
Mar / 8,371.2 / 4,257.2 / 4,114.0 / 113.0 / 206.0 / 116.8 / 152.9 / 200.3 / 254.2 / 515.7 / 2,082.1 / 473.0
1 Source: “Monthly Statement of the Public Debt of the United States (MSPD).” Face value.
2 Sources: Federal Reserve Bulletin, Table 1.18, Federal Reserve banks, statement of condition, for System Open Market Accounts; and the U.S. Treasury MSPD for intragovernmental holdings. Federal Reserve holdings exclude Treasury securities held under repurchase agreements.
3As of February 2005, the debt held by Government Accounts was renamed to Intragovernmental holdings.
4 Source: Federal Reserve Board of Governors, Flow of Funds Table L.209.
5 Includes U.S. chartered depository institutions, foreign banking offices in the United States, banks in U.S. affiliated areas, credit unions, and bank holding companies.
6 Sources: “Monthly Statement of the Public Debt of the United States from January 1996. Federal Reserve Board of Governors, Flow of Funds Table L. 209 from January 1977 through December 1995. Current accrual value. / 7 Includes U.S. Treasury securities held by the Federal Employees Retirement System Thrift Savings Plan "G Fund."
8Includes money market mutual funds, mutual funds, and closed-end investment companies.
9Source: Federal Reserve Board Treasury International Capital Survey. Includes nonmarketable foreign series, Treasury securities, and Treasury deposit funds. Excludes Treasury securities held under repurchase agreements in custody accounts at the Federal Reserve Bank of New York. For additional information, see: http://www.treasury.gov/resource-center/data-chart-center/tic/pages/index.aspx.
10 Includes individuals, Government-sponsored enterprises, brokers and dealers, bank personal trusts and estates, corporate and non-corporate businesses, and other investors.
December 2016